Common use of Required Release Clause in Contracts

Required Release. The Company’s obligation to provide equity acceleration under this Agreement is subject (a) to your signing a release of claims in favor of the Company, confirmation of continued compliance with restrictive covenants, and post-employment cooperation on a form with customary terms to be supplied by the Company at or promptly following the Date of Termination, which release becomes enforceable within 60 days (or such shorter period as the Company specifies) following the Date of Termination (the “Release”) and (b) to your meeting in full your obligations under any restrictive covenant agreements in effect between you and the Company. The date for acceleration is the date of the first payroll whose cutoff date follows the date the Release becomes enforceable, provided that if the 60 day period for providing an enforceable release extends into a calendar year subsequent to the year containing the Date of Termination, the acceleration will be no earlier than the first business day of such subsequent year.